U.S. Economy Is Slowing Down With With Retail Sales And Industrial Output
According to Reuters, U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods. The slowdown in economic activity was underscored by other recently released data showing a drop in industrial production. Economic growth is slowing as the stimulus from the White House's $1.5 trillion tax cut package fades. President Donald Trump's escalating trade war with China is also hurting business and consumer confidence.